Legacy Wealth Asset Management LLC Sells 2,237 Shares of SAP SE (NYSE:SAP)

Legacy Wealth Asset Management LLC decreased its holdings in shares of SAP SE (NYSE:SAP - Free Report) by 19.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,140 shares of the software maker's stock after selling 2,237 shares during the period. SAP accounts for 0.7% of Legacy Wealth Asset Management LLC's portfolio, making the stock its 22nd largest position. Legacy Wealth Asset Management LLC's holdings in SAP were worth $2,454,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fisher Asset Management LLC raised its stake in SAP by 8.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,118,138 shares of the software maker's stock valued at $1,260,137,000 after buying an additional 403,956 shares during the last quarter. TD Asset Management Inc. raised its position in shares of SAP by 125.0% in the 4th quarter. TD Asset Management Inc. now owns 1,602,548 shares of the software maker's stock worth $394,563,000 after purchasing an additional 890,157 shares during the last quarter. Northern Trust Corp boosted its stake in SAP by 91.2% in the 4th quarter. Northern Trust Corp now owns 1,471,798 shares of the software maker's stock worth $362,371,000 after purchasing an additional 701,880 shares in the last quarter. JPMorgan Chase & Co. grew its position in SAP by 145.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,346,506 shares of the software maker's stock valued at $331,523,000 after purchasing an additional 798,037 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in SAP by 5.7% during the 4th quarter. Bank of America Corp DE now owns 1,314,814 shares of the software maker's stock valued at $323,720,000 after purchasing an additional 70,613 shares in the last quarter.

Wall Street Analyst Weigh In

SAP has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price target on shares of SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Barclays reissued an "overweight" rating and issued a $308.00 target price (up previously from $286.00) on shares of SAP in a report on Thursday, April 24th. JMP Securities reaffirmed a "market outperform" rating and set a $330.00 price target on shares of SAP in a report on Friday, May 23rd. UBS Group upgraded shares of SAP to a "strong-buy" rating in a research note on Friday. Finally, Argus reissued a "buy" rating and set a $320.00 price objective on shares of SAP in a report on Tuesday, April 29th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $271.83.

SAP Stock Performance

SAP stock traded up $2.20 during midday trading on Tuesday, reaching $306.86. 1,256,298 shares of the company's stock traded hands, compared to its average volume of 1,055,483. The stock's 50-day moving average is $278.72 and its 200 day moving average is $268.37. The stock has a market cap of $376.98 billion, a P/E ratio of 106.92, a PEG ratio of 4.71 and a beta of 1.35. SAP SE has a 52-week low of $181.84 and a 52-week high of $308.07. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.16.

SAP (NYSE:SAP - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The software maker reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.12. The company had revenue of $10.35 billion for the quarter, compared to analysts' expectations of $9.08 billion. SAP had a return on equity of 12.18% and a net margin of 9.17%. As a group, analysts anticipate that SAP SE will post 6.55 EPS for the current year.

SAP Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were issued a $2.5423 dividend. This represents a yield of 0.8%. This is a positive change from SAP's previous annual dividend of $2.39. The ex-dividend date of this dividend was Tuesday, May 13th. SAP's dividend payout ratio is currently 35.25%.

About SAP

SAP SE, together with its subsidiaries, provides applications, technology, and services worldwide. It offers SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR and payroll, talent and employee experience management, and people and workforce analytics; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management.